In the newly revised edition of “On Becoming A Leader,” leadership guru Warren Bennis says that there’s still much to learn from the New Economy ideas that became popular in the 1990s.

In a new introduction to the book, first published in 1989, Bennis argues that “the dot bomb should have come as no surprise” because the 1990s economy was based “almost entirely on promise.” “But certain elements of the New Economy are still valid in spite of the woeful state of the Nasdaq.”

“The New Economy,” writes Bennis, “was fueled by intellectual capital, as the economy of the 21st Century will be. The days when a company’s most important assets are buildings and equipment are gone forever. Ideas are now the acknowledged engine and currency of the global economy. For leaders, and would-be leaders, the take-home lesson of the New Economy is that power follows ideas, not position.”